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Frisco Company borrowed $76,000 cash on October 1, 2022, and signed a nine-month, 9% interest-bearing note payable with interest payable at maturity. The amount of
Frisco Company borrowed $76,000 cash on October 1, 2022, and signed a nine-month, 9% interest-bearing note payable with interest payable at maturity. The amount of interest expense to be reported during 2023 is which of the following?
$3,420.
$2,565.
$1,710.
$1,026.
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